Evening Star Newspaper, November 7, 1929, Page 40

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OMAHA, Nebr., November 7.—Amend- ment of the Federal Reserve act to make all legitimate collateral, including stock certificates,, eligible to redil:ounr.l privileges was advocated today by Sam- uel P. Arnot, president of the Chicago Board of Trade, A speaker before the Nebraska Bankers' Association. Mr. Arnot, head of the Nation's prin- | cipal commodity exchange, traced de- velopments of the recent stock market collapse and centered much of his at- tention on the “vacillating policies” of the Federal Reserve Board, which he connected closely with the crash. Pur- peses for which the Reserve Board was created are now antiquated, Mr. Arnot said, urging revision of its rules to as- sist in guiding and protecting the in- vestor. Rediscounts Limited. In advocating a change in the redis- count system, Mr. Arnot said as the law is now construed rediscounts apply commercial or industrial purposes” in a steadily decreasing volume. An_“easy money policy,” adopted by the Federal Reserve Board in 1927 to aid European countries in recovering Mr. Arnot as the foundation of the “tremendous bull market movement, He clied statistics in an endeavor to show that when the board became alarmed at the increasing intensity of speculation months later its policles | ;v?cnluud,w the distress of the mar- ets.” Board Won Fight. “When the market colapsed with a record-breaking drop of $1,096,000,000 in brokers’' loans,” Mr. Arnot asserted, “the Reserve Board may be said to have won {ts fight against the absorption of credit in speculation, but man: tend it won the fight only after given up the battle.” It seems certain now, the Board of Trade leader said, that high money rates is dei but, “right or wrong, the part played by y having drama just finished on the financial stage undoubtedly will come in for the most intensive discussion during the next year.” HOOVER’S FR.I.END REGAINS POSSESSION OF ESTATE Towa Court Decree Sets Aside Trust Deed, Giving Man, 93, Con- trol of $250,000. By the Associated Press. TIPTON, Iowa, November 7.—John ‘W. Reeder, 93, friend for years of Presi- dent Hoover, today has regained pos- session of his $250,000 estate as a re- sult of a court decree in which Judge F. O. Ellison set aside a trust deed which transferred the estate to Arthur Lund, Tipton attorney. Reeder executed the deed last Summer, giving control of the estate to the at. torney, with provisions that he dispose of it as he saw fit after Reeder's death. A F. Reeder of Fremont, Nebr., and Dr. Grant S. Reeder of Chicago filed suit to set aside the deed on grounds that their father was incompetent. The ling, W. Va. ‘Wheel; Please send ‘me Don't keep this new no- ~wringer EASY wasHeR unless it proves safer—easier—gentler—faster Try it in your own home! Let a typical washing convince you of EASY superiority. Mcke your own tests. A telepho-e free box to try, call will bring a complete demonstration. Extra Without Extra Cost . Cholee of Agitator or Suction Type of washer. . 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ATHENS, Greece, November 7 (#).— Several Communists today were ar- rested for distributing manifestoes urg- ing workmen to celebrate the Soviet anniversary tonight. ®. Leaves clothes evenly damp Hems will not drip. line-dried indoors bad weather. . Rinsing can be done in Damp-Dryer without handling " clothes until ready for the line. . Clothes are free from deep, hard, creases, . Makes ironing easler— reduces sewing. . Damp-dries bulky things like blankets and tll‘l.hn that will not go rough wringer. . Power pump empties all water for you electri- cally. . Does a complete wash- ing from basket to line faster than any other washer—and without harmful short-cuts. &he period of | N nitely ended, | N the Federal Reserve Board in the great |\ court decided the case in their favor !N Paris celebrated the twentieth anni- | versary of the Marquis of Lambert's flight over Eiffel Tower. He was the first to perform the feat. ‘00U SS3ld PAIEIIosEY— Pershing to Sail Soon. PARIS, November 7 (#).—Gen. John J. Pershing, who has been occupying | himself with American memorials in France, plans to sall for the United States shortly. The general appears to | be in the best of health. Convenient Credit con- | R %, % Vanity, $19.75 777, % All-Cotton Mattress, $5.95 $119 3-Piece Velour Living Room Suite .............. .$139 3-Piece Jacquard Velour Living Room Suite............... Odd Walnut Veneer 5-Pc. Breakfast Room: Suite, $16.95 TRUWwsLAY. STRIKING STUDENTS RETURN TO DESKS Principal Ends One-Day Walkout by Threatening to Curtail Extra- Curricular Activity. By the Associated Press. MAR:! , Wis, November 7.— More than 100 striking puplls were back at their desks at Marinette High School yesterday after a one-day walkout which ended in failure after Principal W. B. Senty threatened to curtail all extra- curricular activities. Three hundred others refused to join the strikers, ‘The students walked out of their classrooms yesterday in protest against the suspension of three members of the foot ball team who participated in a party at which school authorities said liquor was served. The suspension came on the eve of the annual foot ball classic between Marinette and its ancient rival, Menominee, Mich., across the Michigan er. John Goray and Leo Arendt, both juniors, were suspended because they were the strike leaders. Principal Senty said all students who participated in the strike would be in- eligible for extra-curricular activities this year. The majority of the students were not in sympathy with the strike, Neither were the parents of the young strikers. Many mothers appeared at the high school today with their children and made apologies for their actions. The strike recalled one conducted here in 1907, which also was precipitated by the removal of a number of players from the foot ball team. All extra-curricular activities were dropped in 1907, and the gymm\slum of the school was padlocked or two years. tioned of CITY TO FEED FAMILY |5y the = Woman Asks Denver to Save Her and Five Children From Btarvation. DENVER, November 7.—Mrs. Nellie Wasener, ‘whose funds Thmufn‘ an. attorney have helped the family, she yesterday The Purgative for Colds With Constipation TRADE MARK REG. Relieves the congestion, reduces complications, and hastens recovery. suffering for properly amily is under quarantine as a result of a doctor's diagnosis of one girl's illness as whéoping w‘fhl: ‘The motheér is unable, because of quar- CALIF Join a smare coterieof Round- the-World trav- elers on your cruise to Cali- fornia! . Chat with people who know Shanghai, Singapore, Egypt. Share their travels . . . and enjoy glorious days of luxury on a Dollar Liner bound Round the World! Fortnightlysailings via gay Ha- wvana and Panama as Dollar Lin- ers enter Boston and New York. First class exclusively, every cabin an outside room amidship with real beds. Stock -Reduction Sale Don’t miss this sale if you are going to buy Furniture. : / owners have given us orders to reduce this stoack. The only way we can reduce this stock fast is to give Washington a real furniture sale. ‘Covered, $17.95 Base, $10.95 Console Mirror 79u0 QB0 Cogswell Chair, Tapestry i Kitchen Cabinet Seats 4 People, $18.95 Reed Fibre Fernery, $1.79 Priscilla Sewing Cabinet, $2.95 Golden Oak Buffet Davenport Table Mhgy. Finish, $4.85 Double Day Bed $12.75 $19.75 Mhgy. Finish, $1.00 Table and six Chairs e v 3 ] Red or Green. U $125.00 Oak Dining Room Suite. Buffet, $165.00 10-Pc. Genuine Walnut Veneer Dining Room Suite....... $185.00 10-Pc. Dining Room Suite— ralue you can not beat any place for this $Q.95 $89.00 .. $119% $13900 N Cedar Chest RUGS Reduced 9x12 Axminster Rug. . $29.75 9x12 Velvet Rugs . $24.75 9x12 Tapestry Rugs . $19.75 ACHMAN “You’ll Always Do Better Here” Corner 8th and E"Sts. NW. antine, to go about her work to provide | P; money. The father earns $2 u -mh-nnnn“.“« The five children range i age from 18 months to 12 years. Hearing on the petition was set for Eighteen million cartridges and thou- ds of rifies, nd swords, all :‘:r?l‘“l war .Mm:v:nlfl. recently in CRUISE TO Free parlor car setvice from Herald Square, Néw York City, to the liner. 8. 8. President Polk sails Nov. %ist Special roundtrip Summer Fare to California on Dollar World- Liner, return by any direct rail r;uz;-—saso. Open until Nov. 30, 1929. DOLLAR STEAMSHIP LINES 1005 Connecticut wa N.W. Vi b No Extra Charges $50,000 Worth of High-Grade Furniture The Reductions are outstanding in every way. The 50 Fine Living Room Suites Now Reduced $159 3-Piece Three-Tone Jacquard Suite, with wood frame. ......... $179 3-Piece Mohair Living Room Suite....... ______i]. 39 FRIDAY BARGAINS—Only One of a Kind Gate Leg Table X 119 . Smoker, Mahogany Finish, 98¢ " 0dd Lot Boudoir Chairs, $10.00 Odd Chest of 7 Drawers, $6.95 \ % % 7 7%, 22777 Big Values—Bedroom Suite $150.00 4-Pc. Walnut-finish Bedroom Suite. On sale tomorrow. . $175.00 4-Pc. Genuine Walnut Veneer Bedroom- Suité $79.00 $200.00 4-Pc. Bedroom Suite. One of the outstending values m Card Table i £ Cash &